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Post# of 345952
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chenzo11

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chenzo11

Re: ospreyeye post# 117228

Wednesday, 03/20/2013 9:25:22 PM

Wednesday, March 20, 2013 9:25:22 PM

Post# of 345952
Not quite a bullish engulfing...but close.

A bullish engulfing is a gap down at the open below the previous days low. The stock then rallies and finishes higher then the previous days high. Thus it engulfs the previous day. We did not gap down below yesterdays low, thus not a "true" bullish engulfment. A reversal, yes, and it is always nice to see some "buys"....Now lets keep it going!

*As a reference, on March 13th we had a "Bearish Engulfment". Notice how it gapped up and finished below the previous days low...thus engulfing the previous day
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